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the fiscal cliff, you go over the cliff, the taxes go up for every single person. is the plan then if you do a deal for taxes on the middle class, then de facto the taxes go up on the wealthy and sort of have a win/win for the democrats? is that the scenario we're looking at now? >> well, the scenario is that we still have time to put a deal together. the president has a detailed proposal on the table. republicans need to decide where they want to move. john boehner needs to decide how he will get his caucus together. they're becoming increasingly isolated in their position. hopefully we can have a deal which protects the middle class. there is a piece of legislation sitting in the house today that would prevent taxes from going up on 98% of the american people. 97% of small businesses. they should go ahead and move that. and then we can have a broader discussion of how we achieve larger deficit reduction and avoid the fiscal cliff. but there's plenty of room and plenty of time for compromise. the president's position is clear. we're not going to do anything that h
the fiscal cliff, you go over the cliff, the taxes go up for every single person. is the plan then if you do a deal for taxes on the middle class, then de facto the taxes go up on the wealthy and sort of have a win/win for the democrats? is that the scenario we're looking at now? >> well, the scenario is that we still have time to put a deal together. the president has a detailed proposal on the table. republicans need to decide where they want to move. john boehner needs to decide how he...
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a taxes would be raised if there's no deal to avert the fiscal cliff. yesterday as you said, the president was in northern virginia meeting with a middle class family who would suffer if there was no deal. last week the president went to suburban philadelphia, to a small business again to make the point of his side in these fiscal cliff negotiations. different than a year and a half ago when the president dealt only with republicans in congress. this time he is taking the case to americans and getting outside of washington, d.c. congressional republicans not so happy that the president is doing this. >> we understand that. paul steinhauser live in washington, thank you. >>> let's talk more about the fiscal cliff. we have the washington correspondent for the new yorker and cnn contributor ryan lizza with us. john boehner and the president in a room, just the two of them. good idea? >> i think it is a good idea. >> if you look at the accounts of the negotiations of 2011 when you had boehner, mcconnell, nancy pelosi all in one ba bainer and the president w
a taxes would be raised if there's no deal to avert the fiscal cliff. yesterday as you said, the president was in northern virginia meeting with a middle class family who would suffer if there was no deal. last week the president went to suburban philadelphia, to a small business again to make the point of his side in these fiscal cliff negotiations. different than a year and a half ago when the president dealt only with republicans in congress. this time he is taking the case to americans and...
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but if there's no deal and the country goes over that fiscal cliff, taxes go up for everyone, mandatory spending cuts go into effect, a lot of folks are going to say where was the president? he was just re-elected. why couldn't he put together a package, a deal to avoid this disaster? >> i think this is a question of political leadership. and as that poll showed, there's no doubt that the president has the political advantage going into this. but at some point, and i think we're kind of getting close to it, the president has to be able to pivot and to say how do i turn this political advantage into a real policy accomplishment? and, wolf, i don't think you're going to do that with continued campaign style events like we just saw meeting with middle class families. okay. we get that. that occurred during the campaign. the white house has clearly gotten its message out. i think now there has to be a next step. you know, timing is everything in politics. and this is absolutely no different. what i'm getting from talking to some democrats on the hill is i think there's actually a lot of pen
but if there's no deal and the country goes over that fiscal cliff, taxes go up for everyone, mandatory spending cuts go into effect, a lot of folks are going to say where was the president? he was just re-elected. why couldn't he put together a package, a deal to avoid this disaster? >> i think this is a question of political leadership. and as that poll showed, there's no doubt that the president has the political advantage going into this. but at some point, and i think we're kind of...
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we say let's do it all. >> even at the expense of going off the fiscal cliff because if we do that taxes will go up on middle class americans to the tune of 2,000 plus dollars. >> and my whole point is we can put the brakes on the fiscal cliff. they say let's cut taxes for the first $250,000. democrats say that. let's agree and pass what we can agree on and where we can't agree, we can have debates later on. i think the figure ought to be higher than $250,000. i think it should reflect the cost of living in high cost areas like long island. i'm not going to tell my constituents that make less than $250,000, that it should be more. we can all agree on $250,000 and debate what we cannot agree on. >> something about the negotiations themselves seems unusual to me. it seems that house republicans are dealing directly with president obama and sort of skipping over their democratic counterparts like what are you guys doing? >> look, everybody needs to get into a room. there's no question about it. and i don't care whether you are negotiating a baseball contract or negotiating a solution to thi
we say let's do it all. >> even at the expense of going off the fiscal cliff because if we do that taxes will go up on middle class americans to the tune of 2,000 plus dollars. >> and my whole point is we can put the brakes on the fiscal cliff. they say let's cut taxes for the first $250,000. democrats say that. let's agree and pass what we can agree on and where we can't agree, we can have debates later on. i think the figure ought to be higher than $250,000. i think it should...
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there are dramatic changes as far as the estate tax is concerned if we go over the fiscal cliff, if no legislation is passed between now and the end of the year, walk us through what the folks out there can expect. >> here's how it works, wolf. if a family members dies and leaves their estate not to their spouse. but to their decendents, their children or someone other than their children. the estate tax kicks in. here's what's happening this year. according to the independent tax policy center. a state center worth less than $5 million are exempt. the center estimates about 3600 people, families, estates will fall into that category this year. 2012. next year barring any congressional action, that exemption falls down to a million dollars, the rate you pay on that estate jumps up to between 41% and 55%. on top of that, there's a 5% tax on the portion of very large tax estates. the tax policy tenners estimates the number will jump from 2600 in 2012 to 53,000 in 2013. that's a huge increase from where we stand right now. as you know, some people call this double taxation, because people
there are dramatic changes as far as the estate tax is concerned if we go over the fiscal cliff, if no legislation is passed between now and the end of the year, walk us through what the folks out there can expect. >> here's how it works, wolf. if a family members dies and leaves their estate not to their spouse. but to their decendents, their children or someone other than their children. the estate tax kicks in. here's what's happening this year. according to the independent tax policy...
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. >>> two o the fiscal cliff now. the end of the bush era tax breaks. so, where are the negotiations in washington? well, they're at a standstill. now, house speaker john boehner is putting all the blame on president obama. he's upset that the white house quickly rejected boehner's plan. >> there are a lot of things that are possible to put the revenue that the president seeks on the table. none of it is going to be possible. the president insists on his position. insists on my way or the highway. >> president obama is asking congress for more than $60 billion for states affected by superstorm sandy. officials from states hardest hit say the money is just a start. with the fiscal cliff looming the staff is sure to face some resistance on capitol hill. >>> he spoke at this year's democratic national convention as an independent, but now former republican florida governor charlie crist is a proud democrat. crist posted a twitter photo friday showing his registration papers tweeting that he's proud and honored to join the party in the home of president oba
. >>> two o the fiscal cliff now. the end of the bush era tax breaks. so, where are the negotiations in washington? well, they're at a standstill. now, house speaker john boehner is putting all the blame on president obama. he's upset that the white house quickly rejected boehner's plan. >> there are a lot of things that are possible to put the revenue that the president seeks on the table. none of it is going to be possible. the president insists on his position. insists on my...
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that if it goes over the fiscal cliff republicans are prepared to make the middle class pay more tax paying more. and that is a very bad position for the republicans to find themselves in isn't it? >> sit a very bad position for them to find themselves in. the fact of the matter is, it isn't true. the taxes on the wealthiest americans, it doesn't address the core problems. the $16 trillion comes from government over spending and we have slow growth. raising the taxes on anybody whether it is on the poor or the other americans doesn't solve the problem. let's get in and figure out what the key problems are and solve those. i made an analogy earlier to giving a kid more allowance. i stopped paying them. >> i mean un believable. so kate, middleton, is in hospital with this morning sickness and revealed that she is pregnant and some dumb aussie dejay rings up with this accent and they think it is the queen of england land. have you ever heard of something so ludicrous? >> i thought it was you. >> of all the problems in the world this is not the most serious one. >> obviously, they are no
that if it goes over the fiscal cliff republicans are prepared to make the middle class pay more tax paying more. and that is a very bad position for the republicans to find themselves in isn't it? >> sit a very bad position for them to find themselves in. the fact of the matter is, it isn't true. the taxes on the wealthiest americans, it doesn't address the core problems. the $16 trillion comes from government over spending and we have slow growth. raising the taxes on anybody whether it...
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you want to know what's at the bottom of that fiscal cliff, well, there you have it. many say that what's going to happen if something isn't done soon, but guess what? alice rivlin has a plan. she's a senior fellow at the brookings institution and served as director of the white house office of management and budget, the omb, under president clinton. alice, good morning. >> good morning. >> nice to have you here on the show this morning. you're saying that it's too late for the lame duck congress to pass legislation to fix all the problems that exist, but you have created a framework for something that you call a grand bargain. what is it? >> well, it isn't just me. anybody who has looked at this problem, i was on the simpson/bowles commission and chaired another committee with senator domenici. everybody sees first that the budget is on an unsustainable course. we're on a course to accumulate more debt over the years and accumulate debt faster than the economy can grow. that's not sustainable. the grand bargain is that we have to do something about this, and the thin
you want to know what's at the bottom of that fiscal cliff, well, there you have it. many say that what's going to happen if something isn't done soon, but guess what? alice rivlin has a plan. she's a senior fellow at the brookings institution and served as director of the white house office of management and budget, the omb, under president clinton. alice, good morning. >> good morning. >> nice to have you here on the show this morning. you're saying that it's too late for the lame...
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this fiscal cliff thing, the problem with the republicans, larry, is that they have been boxed in by the democrats into a difficult position where the polls confirm that the public in america believe that the reason that president obama is going to win the debate is because, come the fiscal cliff moment, that if he goes over, that they are going to save the backsides of the wealthy 2% of americans. i probably shouldn't but i do. >> speaking as a reagan conservative, i must say i rather agree with you. probably shouldn't. but i do. i think divided government is very difficult. and there's some principles that speaker boehner is fighting for, with which i actually agree. but i think politically, the risk here for the gop, is they've become the party of rich people. and they give up the middle-class to the democrats. and i think you saw some of that in the presidential election. i don't think that's their intent. i think their tax reform intent is quite sound. but the way this is playing out, i think that's a big risk for them. >> they're becoming the party of rich, white, older men, is
this fiscal cliff thing, the problem with the republicans, larry, is that they have been boxed in by the democrats into a difficult position where the polls confirm that the public in america believe that the reason that president obama is going to win the debate is because, come the fiscal cliff moment, that if he goes over, that they are going to save the backsides of the wealthy 2% of americans. i probably shouldn't but i do. >> speaking as a reagan conservative, i must say i rather...
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we have a few numbers of days left before we go off the fiscal cliff and taxes are raised for everybody. so speaker boehner knows a caucus, a serious, mature sober leader. he knows what his principles are. he's a principled conservative, a mainstream businessman and knows what the issues are. the house should and is largely trusting him. >> and what do you think about that, hilary? should the democrats trust the president to close the deal behind closed doors? >> i think democrats mostly trust the president. i don't know what mary's talking about that the president has dragged his heels. he's been trying to get congress to deal with this issue for months and months. but having said that, neither of these guys i think have the full faith and credit of their caucuses to do anything and that's what is taking so long. no democrats are pressing on the president to be careful on what he cuts on entitlements and folks like me would like to make sure that the defense cuts, you know, are substantially a part of this package. republicans, you know, are making a big deal out of that top 2% tax rat
we have a few numbers of days left before we go off the fiscal cliff and taxes are raised for everybody. so speaker boehner knows a caucus, a serious, mature sober leader. he knows what his principles are. he's a principled conservative, a mainstream businessman and knows what the issues are. the house should and is largely trusting him. >> and what do you think about that, hilary? should the democrats trust the president to close the deal behind closed doors? >> i think democrats...
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from everyone if we go over that fiscal cliff, you got to compromise. there's nothing wrong with compromise. to some liberals on the far left, conservatives on the far right, compromise is a dirty word. you should never compromise with the other side. they hate that. they rather go over the fiscal cliff but the overwhelming majority of americans totally disagree with those hard line positions on the extreme left and the extreme right. they want to compromise and they want a deal and they want the president and john boehner, the republican leadership and democratic leadership to come up with something that avoids going over the fiscal cliff. i think that's what that poll shows. >> let me change topics for a bit. news broke just before the program that republican senator jim demint is leaving. he decided to take over the heritage foundation. i have a question for you in that was this expected? he's a staunch conservative and opponent to craving into democrats and how do those things factor into a way ahead for republicans in the senate? >> i was surprised
from everyone if we go over that fiscal cliff, you got to compromise. there's nothing wrong with compromise. to some liberals on the far left, conservatives on the far right, compromise is a dirty word. you should never compromise with the other side. they hate that. they rather go over the fiscal cliff but the overwhelming majority of americans totally disagree with those hard line positions on the extreme left and the extreme right. they want to compromise and they want a deal and they want...
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. >> another story, just three weeks away from the tax hikes, spending cuts that make up fiscal cliff, we're now seeing house speaker boehner discussing the issue from the house floor. the first time he's commented publicly after meeting with president obama sunday. let's listen. >>> right flonow the american people have to be wondering when is the president going to get serious. i yield back. >> the chair recognizes the gentlemen from pennsylvania mr. altmire, for five minutes. >> i rise to recognize victor decarlo for receiving the -- >> we have been listening to the house speaker talking about negotiations taking place with the president obviously, a lot of people watching closely, trying to avoid the fiscal cliff which would mean tax hikes for almost all americans but also severe cuts as well. they are debating that publicly as well as privately. i want to talk more about the rebel group that we had mention before in syria, that is now designated a new terrorist organization, cnn's hala gorani joining us atlanta. hala, first of all, you've got the syrian rebels, they're there figh
. >> another story, just three weeks away from the tax hikes, spending cuts that make up fiscal cliff, we're now seeing house speaker boehner discussing the issue from the house floor. the first time he's commented publicly after meeting with president obama sunday. let's listen. >>> right flonow the american people have to be wondering when is the president going to get serious. i yield back. >> the chair recognizes the gentlemen from pennsylvania mr. altmire, for five...
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it's about the money. >> so is 37 the magic number in this fiscal cliff debate? "outfront," two men who know taxes very well. douglas holtz-ekin, president of the american action forum and robert reich from the university of california and berkeley and former secretary under bill clinton. douglas, does this sound like code for a deal in the works? >> it certainly is good news that they aren't taking things off the table. i would be premature if i was celebrating a deal. there's a long way to go. it's important that they reach an agreement. the fiscal cliff is a very real danger to the united states economy. it's a recipe for a recession. and i certainly would not like to see the rhetoric that we saw from the treasury secretary tim geithner who said he's prepared to go over the fiscal cliff. that is not a good way to talk about what's going on right now. >> mr. reich, let me ask you the same thing. do you think there's code suggesting they are working towards something? because, doug, as you point out, the language was really harsh during this week. but all of a s
it's about the money. >> so is 37 the magic number in this fiscal cliff debate? "outfront," two men who know taxes very well. douglas holtz-ekin, president of the american action forum and robert reich from the university of california and berkeley and former secretary under bill clinton. douglas, does this sound like code for a deal in the works? >> it certainly is good news that they aren't taking things off the table. i would be premature if i was celebrating a deal....
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president obama playing fiscal cliff hardball this morning. he's telling republicans he will not agree to a deal that doesn't include a tax hike on the wealthiest americans, hardening his position on this. he'll be meeting with business leaders today. >>> later this morning, speaker john boehner meets with fellow house republicans. sources tell cnn gop leaders are looking for a way out. >> it turns out the barefoot recipient of boots by a new york city police officer was shoeless but guess what, not homeless. city officials say jeffrey hillman does have stable housing, an parm in the bronx. they say he's lived there rent-free for the past three years. but hillman regularly panhandles in times square. >> a former boy scout who says he was sexually abused is suing is the boy scouts of america. the lawsuit claims his former troop leader, thomas hacker was barred from the group in indiana in the 1970s but was able to rejoin as a volunteer in illinois in the 1980s. hacker was arrested in 1988, later convicted in the aggravated sexual assault of an
president obama playing fiscal cliff hardball this morning. he's telling republicans he will not agree to a deal that doesn't include a tax hike on the wealthiest americans, hardening his position on this. he'll be meeting with business leaders today. >>> later this morning, speaker john boehner meets with fellow house republicans. sources tell cnn gop leaders are looking for a way out. >> it turns out the barefoot recipient of boots by a new york city police officer was shoeless...
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deciding how much of each is what's holding up any deals on averting the fiscal cliff. negotiations are pretty much at a standstill, but if you ask house speaker john boehner, he has an idea of who's holding things up. >> there are a lot of things that are possible to put the revenue the president seeks on the table. but none of it's going to be impossible. the president insists on his position. insists on my way or the highway. >> in his weekly white house address this morning, president obama responded to boehner's remark. >> i'm willing to make more entitlement spending cuts on top of the one trillion dollars in spending cuts i signed into law last year. but if we're serious about reducing our deficit while still investing in things like education and research that are important to growing our economy, and if we're serious about protecting middle class families, then we're also going to have to ask the wealthiest americans to pay higher tax rates. that's one principle i won't compromise on. >>> holiday hiring may have given a big boost to the jobs report released yes
deciding how much of each is what's holding up any deals on averting the fiscal cliff. negotiations are pretty much at a standstill, but if you ask house speaker john boehner, he has an idea of who's holding things up. >> there are a lot of things that are possible to put the revenue the president seeks on the table. but none of it's going to be impossible. the president insists on his position. insists on my way or the highway. >> in his weekly white house address this morning,...
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. >>> meanwhile, when you hear the term fiscal cliff, you probably think about higher taxes, right? could it also have an impact on what we eat? first, a very good morning to washington dc, a foggy start on this sunday, december 9th.si eenx a month! okay, come with me -- we're gonna save you money. with straight talk at walmart, you get unlimited talk, text and data for only $45 a month per one. would we get the same coverage? same coverage on america's best networks. you saved $146.76 by switching to straight talk. awesome! now you can afford to share your allowance with me. get the season's hottest smartphones like the samsung galaxy s2 and get straight talk with unlimited data for just $45 a month -- from america's gift headquarters. walmart. ♪ time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sp
. >>> meanwhile, when you hear the term fiscal cliff, you probably think about higher taxes, right? could it also have an impact on what we eat? first, a very good morning to washington dc, a foggy start on this sunday, december 9th.si eenx a month! okay, come with me -- we're gonna save you money. with straight talk at walmart, you get unlimited talk, text and data for only $45 a month per one. would we get the same coverage? same coverage on america's best networks. you saved $146.76...
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i'm going to tell you what others won't about the fiscal cliff. the head of starbucks said it will damage the u.s.'s reputation and shenanigans from capitol hill and with a cool 500 bucks to spend, should you use them now for a share in apple? apple says it will build some of the iconic mac computers in the u.s. listen to what apple ceo tim cook said to nbc's brian williams. >> so we've been working for years on doing more and more in the united states. next year, we will do one of our existing mac lines in the united states. >> but apple stock has been singing the blues for a few months. plummeted 25% off the all-high and a beating this week. 6.5% lower yesterday. apple up more than a percent today. kurndly around $544 a share. is now a good time to get in. you're all asking me. i'm asking katie stockton in connecticut. katie, is apple stock down off its high a phenomenally successful stock to hold for so many investors and showing the chart again. you look at technical trading patterns in the stock. do they tell you it's time to buy, sell or hol
i'm going to tell you what others won't about the fiscal cliff. the head of starbucks said it will damage the u.s.'s reputation and shenanigans from capitol hill and with a cool 500 bucks to spend, should you use them now for a share in apple? apple says it will build some of the iconic mac computers in the u.s. listen to what apple ceo tim cook said to nbc's brian williams. >> so we've been working for years on doing more and more in the united states. next year, we will do one of our...
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rates. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting point? "outfront" republican congressman james lankford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. appreciate you're taking the time. what about this idea of racinin taxes on everyone? the math works much better. >> i heard your lead in when you said this is a new idea. actually, it's not a new idea, there are several democrats who have floated that for a while. the code word is we want to go back to the clinton tax rates and talk about the clinton economy that we had a much more vigorous economy and growth and we should go back to the clinton tax rates. what that really means is all tax rates on all americans go back up because the tax rates were brought down in 2001 and 2003. i don't support that. i don't think that's a great idea. it would slow down the economy. >> when you look at economist's evaluations, it would slouw dow the economy. it would. there's no question about it. but if the problem is that we hav
rates. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting point? "outfront" republican congressman james lankford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. appreciate you're taking the time. what about this idea of racinin taxes on everyone? the math works much better. >> i heard your lead in when you said this is a new idea. actually, it's not a new idea, there...
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in the struggle to avoid the fiscal cliff, senior citizens are fighting to protect their medicare, their social security benefits. >>> and the seersz series in the country's civil war compares it to living life in a grave. cnn is on the scene for us. yo, give it up, dude! up high! ok. don't you have any usefull apps on that thing? who do you think i am, quicken loans? ♪ at quicken loans, our amazingly useful mortgage calculator app allows you to quickly calculate your mortgage payment based on today's incredibly low interest rates... right from your iphone or android smartphone. one more way quicken loans is engineered to amaze. ♪ is engineered to amaze. we are gathered here today to celebrate the union of tim and laura. it's amazing how appreciative ople are when you tell them they could save a lot of money on their car insurance by switching to geico...they may even make you their best man. may i have the rings please? ah, helzberg diamonds. nice choice, mate. ...and now in the presence of these guests we join this loving couple. oh dear... geico. 15 minutes could save you 15% or m
in the struggle to avoid the fiscal cliff, senior citizens are fighting to protect their medicare, their social security benefits. >>> and the seersz series in the country's civil war compares it to living life in a grave. cnn is on the scene for us. yo, give it up, dude! up high! ok. don't you have any usefull apps on that thing? who do you think i am, quicken loans? ♪ at quicken loans, our amazingly useful mortgage calculator app allows you to quickly calculate your mortgage...
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the fiscal cliff. we want to talk to congressman james langford, a republican from the state of oklahoma. nice to have you with us, sir. we appreciate your time. >> thank you. >> you have in all seriousness been warned not to make plans for christmas. what do you think is the likelihood in fact that a deal would be done before christmas, number one? and what exactly are they telling you to do or not do? >> at this point we've been told by eric cantor and speaker boehner just to hold the schedule through the rest of the year. that's the same thing we heard right after the election. hang on to the calendar and we'll watch and see how this unfolds. obviously americans work through the holidays a lot and so as members of the house and senate, we'll continue to do that as well. >> how will it work low gistically. you're done today, right? the last working day, you're off tomorrow. do you go anyway and everybody is just on call meaning you'd be brought back to do some sort of a vote? >> americans loose track
the fiscal cliff. we want to talk to congressman james langford, a republican from the state of oklahoma. nice to have you with us, sir. we appreciate your time. >> thank you. >> you have in all seriousness been warned not to make plans for christmas. what do you think is the likelihood in fact that a deal would be done before christmas, number one? and what exactly are they telling you to do or not do? >> at this point we've been told by eric cantor and speaker boehner just...
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cliff, if republicans do not give on this tax issue. listen to what he said. >> oh, absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest -- remember, it's only 2%. >> john boehner, though, remaining firm in his position, though he says he's already giving, because they're acknowledging that revenue will go up in taxes through the way that they would like to see taxes go up, even though they don't want to see taxes go up, through closing loopholes and eliminating deductions. john boehner acknowledges that revenue is going to be part of this deal, but they are standing firm on, they will not agree to at this point to raising tax rates on anyone. so either way, the major issue remains. the major issue, the major hurdle remains the tax rate issue. >> right, right. and meantime it's ticktock, right? and the house is out as of yesterday. members are headed to their home states for a nice long weekend with no deal in sight. the majority leader, eric cantor, says he's g
cliff, if republicans do not give on this tax issue. listen to what he said. >> oh, absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest -- remember, it's only 2%. >> john boehner, though, remaining firm in his position, though he says he's already giving, because they're acknowledging that revenue will go up in taxes through the way that they would like to see taxes go up, even though they don't want to see...
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cliff or else automatic spending cuts and tax hikes will kick in and with the fiscal cliff looming, our consumers feeling at all concerned? christine romans joins us now from new york with that. good morning, christine. >> good morning, ted. first, let me tell you what's going right in the economy for consumers. there's a whole host of things. the job markets, 7.7% unemployment, the lowest in four years. you've got the housing market showing signs of recovery. rising home values in much of the country. gas prices, did you notice? they're down 46 cents over the past couple of months. they're expected to keep going lower and the dow is up 20 points now. the dow is above 1,300 and the s&p 500 is up 12% this year. so, what could go wrong? fiscal cliff. this is something weighing op consumer sentiment and we're starting to see it in the weekly -- look at this -- 39% said it would affect it some. they don't seem to have much faith in congress to fix it and any time except 11th hour and maybe a week into the new year and there's this payroll tax holiday that most people have been enjoying
cliff or else automatic spending cuts and tax hikes will kick in and with the fiscal cliff looming, our consumers feeling at all concerned? christine romans joins us now from new york with that. good morning, christine. >> good morning, ted. first, let me tell you what's going right in the economy for consumers. there's a whole host of things. the job markets, 7.7% unemployment, the lowest in four years. you've got the housing market showing signs of recovery. rising home values in much...
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we may be seeing tiny hints of progress in the fiscal cliff crisis. it's getting quiet on capitol hill. 21 days remain before the tax hikes and spending cuts kick in, and congress breaks for the holiday, at least they are scheduled to, on friday. this is what you need to know. the president on the road pitching his tax plan to workers at a truck plant in michigan. house speaker boehner were conducting behind the scenes talks with the white house. and the posturing and finger pointing in washington suddenly stopped. we have more from washington. the sounds of silence may be the sounds of progress? >> potentially. we hope so. we don't really know. we're forced to read the tea leaves essentially, john, because neither side is giving details about the substance of discussions. let me read a statement from john boehner's press secretary. "discussions with the white house are taking place, but we have no detail to share about the substance of those conversations. the republican offer made last week remains the republican offer and we continue to wait for th
we may be seeing tiny hints of progress in the fiscal cliff crisis. it's getting quiet on capitol hill. 21 days remain before the tax hikes and spending cuts kick in, and congress breaks for the holiday, at least they are scheduled to, on friday. this is what you need to know. the president on the road pitching his tax plan to workers at a truck plant in michigan. house speaker boehner were conducting behind the scenes talks with the white house. and the posturing and finger pointing in...
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has nothing to do with the fiscal cliff. but it has everything to do with obamacare. >> now, it is true that a lot of those taxes did take place after the election. that's something we pointed out and is a fair point. but let me just ask you about the compromise we have to go to. because like i said, again, to get this done, taxes are -- i mean, they're going to go up on somebody. i just believe that this is what is going to happen. i think tom cole thinks it's going to happen. i think tom coburn thinks it's going to happen. i wanted to play a bite from him and get your reaction. here he is. >> sure. >> i'm okay to compromise even on some of my issues, if, in fact, we'll solve the problem. but what we have is a game being played for political -- for the extreme right wing and the extreme left win rather than coming together and leading and solving the problem. >> so grover norquist. if you had to accept the tax rates would go up, all right, just they're going to go up and they're going to go up on somebody. what would you re
has nothing to do with the fiscal cliff. but it has everything to do with obamacare. >> now, it is true that a lot of those taxes did take place after the election. that's something we pointed out and is a fair point. but let me just ask you about the compromise we have to go to. because like i said, again, to get this done, taxes are -- i mean, they're going to go up on somebody. i just believe that this is what is going to happen. i think tom cole thinks it's going to happen. i think...
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rates that were there when i was predz. >> with now break through today and the fiscal cliff negotiations, is this a starting point? "outfront" republican congressman james langford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. good to see you, sir. appreciate you taking the time. what about this idea of raising taxes on everyone? the math actually in this case is much more promising. it works much better. >> right. i heard your lead-in on it, and you said this is a new idea floated by howard dean. ints a new idea. several democrats have floated that a while. the code word is going back to the clinton tax rates and talk about the clinton economy and we should go back to the clinton tax rates. what that means is all tax rates on all americans go back up because the tax rates were brought down in 2001 and 2003. so it's not new, and no, i don't support that. i don't think that's a great idea at all. it will slow down the economy. >> all right. the truth is when you look at economists' evaluations, it will slow down
rates that were there when i was predz. >> with now break through today and the fiscal cliff negotiations, is this a starting point? "outfront" republican congressman james langford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. good to see you, sir. appreciate you taking the time. what about this idea of raising taxes on everyone? the math actually in this case is much more promising. it works much...
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try to prevent us from going over the fiscal cliff. >> those three guys are here live. and the man who shut down the government under bill clinton. what newt gingrich thinks it will take to avoid that happening again. >>> plus one of my personal heroes, the fastest man in the history of planet earth. jamaican sprinter usain bolt revealing a talent you may not know he has. ♪ let's get together and feel all right ♪ >> this is "piers morgan tonight." >>> good evening. our big story tonight, you are so hot, america. i mean that literally. the temperature was a balmy 60 degrees this afternoon in new york just outside cnn's studios. the average high temperature in december is normally 43. a warm front has flooded the lower 48 states. quite extraordinary but is it evidence of man-made global warming? that's tonight's battleground america. joining me now, bill nye the science guy and mark morano, the publisher of climate depo.com. welcome to you both. let me start with you, mark, if i may. you are implacably opposed to the concept of man-made climate change. why? >> we foll
try to prevent us from going over the fiscal cliff. >> those three guys are here live. and the man who shut down the government under bill clinton. what newt gingrich thinks it will take to avoid that happening again. >>> plus one of my personal heroes, the fastest man in the history of planet earth. jamaican sprinter usain bolt revealing a talent you may not know he has. ♪ let's get together and feel all right ♪ >> this is "piers morgan tonight." >>>...
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president obama was in michigan today pushing the fiscal cliff plan and you know what? he made the solution sound so simple. >> when you put it altogether what you need is a package that keeps taxes where they are for middle class families, we make some tough spending cuts on things we don't need and ask the wealthiest americans to pay a slightly higher tax rate. >> not so fast, mr. president. president obama says his plan reduces the deficit we $4 trillion over 10 years. forget the fact that it counts war savings which shouldn't count and go with the $4 trillion. house speaker john boehner said his plan cuts $2.2 trillion over 10 years. think about $16 trillion. that's how much debt this country has and according to bill gross, the man who runs the world's biggest bond fund, the guy that decides to lend money to the united states and how much we have to pay to borrow, says we have to cut spending or raise taxes by 11% of gdp over next 10 years and according to gross that's $1.6 trillion a year. that is, let's just make this clear, $1.2 trillion a year more than the pre
president obama was in michigan today pushing the fiscal cliff plan and you know what? he made the solution sound so simple. >> when you put it altogether what you need is a package that keeps taxes where they are for middle class families, we make some tough spending cuts on things we don't need and ask the wealthiest americans to pay a slightly higher tax rate. >> not so fast, mr. president. president obama says his plan reduces the deficit we $4 trillion over 10 years. forget the...
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president obama was in michigan today pushing his fiscal cliff plan. he made the solution sound so simple. >> when you put it all together, what you need is a package that keeps taxes where they are for middle class familiefamilies, w some tough spending cuts on things we don't need, and then we ask the wealthiest americans to pay a slightly higher tax rate. >> but not so fast, mr. president. we need a little more than you're talking about. president obama says his plan reduces the deficit by $4 trillion over ten years. forget the fact it counts war savings which shouldn't count. let's go with the $4 trillion. john boehner said his plan cuts $2.2 trillion over ten years. you shouldn't be comparing those two nubs. what you should think about is $16 trillion. that's how much debt the country has. according to bill groesdz, the man who runs the biggest fund, ie, the man who decides how much we can spend and borrow, we have to cut spending or raise taxes. that's $1.6 trillion a year. that's $1.2 trillion a year more than the president proposes. and $1.38 t
president obama was in michigan today pushing his fiscal cliff plan. he made the solution sound so simple. >> when you put it all together, what you need is a package that keeps taxes where they are for middle class familiefamilies, w some tough spending cuts on things we don't need, and then we ask the wealthiest americans to pay a slightly higher tax rate. >> but not so fast, mr. president. we need a little more than you're talking about. president obama says his plan reduces the...
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that's what the fiscal cliff is all about. it would all start with the start of the new year. i want to get to senator jeff merkley. he's a democrat from the state of oregon. he's on both the budget committee and the banking, housing, and urban affairs committee. nice to have you with us, sir. thanks for joining us. >> you're welcome. >> thank you. before we get to fiscal cliff, let's talk a little bit about syria. there are now reports that they may be loading the components that would make up sarin gas. and i'm curious to know and i think a lot of people are watching this, does this mean that we are headed, the united states is headed into military action considering what we know about the red line, if you will, that hillary clinton laid out pretty clearly? >> it was very important for her to draw a very clear line. because any use of chemical weapons has to be responded to internationally. i'm sure the secretary of state is immersed with russia right now, is in negotiations with russia for a united front against this absolutely unacceptable possibility. >> okay. so she's la
that's what the fiscal cliff is all about. it would all start with the start of the new year. i want to get to senator jeff merkley. he's a democrat from the state of oregon. he's on both the budget committee and the banking, housing, and urban affairs committee. nice to have you with us, sir. thanks for joining us. >> you're welcome. >> thank you. before we get to fiscal cliff, let's talk a little bit about syria. there are now reports that they may be loading the components that...
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cliff pr campaign. he is meeting with a middle class family in northern virginia, and the white house says the president is going to talk about his efforts to extend tax cuts for the middle class as part of this debt deal. well, some economists are predicting that the country will go into another recession if this debt deal is not reached. any deal that the lawmakers and white house come up with is also going to have a major impact, so joining us to talk a little bit about it, peter morrissey. he is a business professor at the university of maryland, and our own chief business xhnt ali velshi. you wrote something, an article here, predicting that these tax hikes, the spending cuts likely in the debt deal, could push unemployment, you believe, from 7.9% all the way to 10%. how so? >> well, simply it will cut spending in the economy. the wealthy will have less money to spend, but the government will likely be spending a lot less money as well because the republicans are going to want spending cuts. you co
cliff pr campaign. he is meeting with a middle class family in northern virginia, and the white house says the president is going to talk about his efforts to extend tax cuts for the middle class as part of this debt deal. well, some economists are predicting that the country will go into another recession if this debt deal is not reached. any deal that the lawmakers and white house come up with is also going to have a major impact, so joining us to talk a little bit about it, peter morrissey....
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>> here's the deal, first of all for the audience, we talk about the fiscal cliff, it involves three things. first of all it deals with the bush tax cuts set to expire in december. it also deals with the debt ceiling, sequestration, there's three parts to it. the president is consistently saying i talked to people in his administration, saying look we want to deal first just with the tax cuts. republicans want to add the other pieces to it because they know it's hard to defend fighting for the tax cuts for the top 2%. they need to be able to tell their supporters we got something out of this. the president is saying separate them. that's part of the reason why you have this battle. >> dig deeper into what you're saying, roland, 70% for democrats, 70% seem to suggest they are willing to see cuts in entitlements, house speaker john boehner says taxes remain a sticking points but there are reports that bainer is open to more revenues. is it time for democrats to give more on social security, medicare and medicaid? >> the president did so last year. if you ask republican leadership they
>> here's the deal, first of all for the audience, we talk about the fiscal cliff, it involves three things. first of all it deals with the bush tax cuts set to expire in december. it also deals with the debt ceiling, sequestration, there's three parts to it. the president is consistently saying i talked to people in his administration, saying look we want to deal first just with the tax cuts. republicans want to add the other pieces to it because they know it's hard to defend fighting...
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what happens to your city if we go over the fiscal cliff? >> it's a real challenge for people all over my state, frankly. a lot of families in this tough economic time, seeing them having $2,000 or more on average of expenses of not enjoying tax cuts, will make a real impact. people barely making mortgage payments, falling behind on car payments this will be a difficult thing. and that will have a multiplier affect. people who don't have extra money to spend hurt the stores that that would be shopping in, the food they would be buying, so on, so forth this is a time we can't have a government that is especially republicans, holding hostage all of this country. 98% of our country. >> a negotiation. so i wouldn't -- i get are you a democrat. so you will blame it on republicans. >> democrat, republican, we saw the last time what happened we had a conflict like this around the debt ceiling debate. the debate ground on and consumer confidence dipped, the economy was hurt. credit downgraded. >> how likely it is we will have a deal? >> i am really
what happens to your city if we go over the fiscal cliff? >> it's a real challenge for people all over my state, frankly. a lot of families in this tough economic time, seeing them having $2,000 or more on average of expenses of not enjoying tax cuts, will make a real impact. people barely making mortgage payments, falling behind on car payments this will be a difficult thing. and that will have a multiplier affect. people who don't have extra money to spend hurt the stores that that...
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. >>> the other big story today, getting a deal to avoid the fiscal cliff is looking more and more like it might take a christmas miracle. president obama and congressional republicans seem to be digging in on the issue of taxes right now. but a new "wall street journal"/nbc poll shows an overwhelming majority of americans are siding with the president. of the republicans polled, we're seeing a big shift a majority favoring compromise. white house correspondent brianna keilar is following this informatio negotiation, the ups and down. i'm not sure the polls matter as much as the members on both sides of the aisle. >> the good news is they are still talking, the white house and the speaker's office. president obama and the speaker have spoken. the staff is talking. when you listen to how they're characterizing conversations, it's not that great. from sunday's conversation that the speaker had with the president, he called that cordial. he just said that his conversation on tuesday night with the president was deliberate and frank. both the speaker and the white house have been asked abou
. >>> the other big story today, getting a deal to avoid the fiscal cliff is looking more and more like it might take a christmas miracle. president obama and congressional republicans seem to be digging in on the issue of taxes right now. but a new "wall street journal"/nbc poll shows an overwhelming majority of americans are siding with the president. of the republicans polled, we're seeing a big shift a majority favoring compromise. white house correspondent brianna keilar...
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but there is this, if no deal is struck, and the fiscal cliff comes, then $600 billion in automatic tax increases and spending cuts will kick in. that could affect a lot of programs in this room. that, wolf, is going to lead a lot of voters, democrat and republican, unhappy. >> tom foreman. dramatic way of explaining what's going on. love that virtual studio he's got over there. thank you. >>> new clues potentially uncovered in a deadly decades old mystery haunting a reform school. you'll find out what researchers think they have found. that's next. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ [ male announcer ] with a select terrain dial that adjusts the jeep grand cherokee's performance for specific weather and road conditions... ♪ ...even heavy snowstorms... won't keep you from getting to work. our apologies. ♪ >>> researchers may have unkfred shocking new evidence of a mass grave at a now closed florid
but there is this, if no deal is struck, and the fiscal cliff comes, then $600 billion in automatic tax increases and spending cuts will kick in. that could affect a lot of programs in this room. that, wolf, is going to lead a lot of voters, democrat and republican, unhappy. >> tom foreman. dramatic way of explaining what's going on. love that virtual studio he's got over there. thank you. >>> new clues potentially uncovered in a deadly decades old mystery haunting a reform...